— Know what they know.
/
Not Investment Advice

GLW

NYSE · USD
Corning Inc
Technology · Hardware, Equipment & Parts
CEO Wendell Weeks Employees 67,200 R&D / revenue 7.1%
Last price
$132.06−4.60%last session
Market cap
$113.8B
P/E (TTM)
59.8x
From 52w high
−51.4%
From 52w low
+70.6%
1-year return
+52.7%
RSI 14 · vs SMA200
35.9 · −14.0%
IS score
69.5/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

GLW   SPY   XLK (sector ETF) · weekly closes
100150200250300Jan 26Apr 26Jul 26Oct 26GLW 153XLK 129SPY 116

Score DNA

Each bar is a 0-100 score within the scored universe
49
Profitability
73
Growth
32
Value
97
Momentum
100
Risk (safety)
77
Quality
65
Balance sheet
70
Earnings quality

Flags

Strengths
✓ Piotroski 8+✓ Congress buying
Warnings
▲ Share count rising
Observations
Moat model: Narrow, Efficient ScalePiotroski 8 / 9Altman Z 8.4Beta 1.153 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
14 open-market sales, $57.5M
Form 144 notices (12m): 32, $105.5M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
2
Last disclosed purchase 2026-09-08
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+431
580 new holders, 118 closed
2,694 filers hold 73.8% · 902 added, 958 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+305
1,351 funds adding shares
1,046 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
25.8%
20-day avg 42.3%, 50-day avg 43.6%
Latest 16.5 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$15.6B
Revenue growth YoY+19.1%
Gross margin35.3%
Operating income$2.3B
Operating margin14.9%
Net income$1.6B
Net margin10.2%
EPS (diluted)$1.85
Cash flow
Operating cash flow$2.7B
Capital expenditure$1.3B
Free cash flow$1.4B
FCF conversion (FCF / OCF)52.4%
Stock-based compensation$286.0M
FCF less SBC$1.1B
Buybacks$163.0M
Dividends$999.0M
Balance sheet & returns
Cash & short-term investments$1.5B
Total debt$9.4B
Net debt$7.9B
Shareholders' equity$12.3B
Goodwill & intangibles$3.1B
Debt / equity0.75
ROE (TTM)15.9%
ROIC (TTM)8.2%
Operating margin by fiscal year
15.0%FY202110.1%FY20227.1%FY20238.7%FY202414.7%FY2025
Revenue $14.1B (FY2021) to $15.6B (FY2025), a 2.6% CAGR.

Valuation

P/E (TTM)59.8x
EV / EBITDA28.4x
Price / sales6.71x
Price / FCF47.5x
FCF yield2.11%
Buyback yield0.14%
SBC / revenue2.5%
Price / book9.04x
Forward P/E FY202640.1x
Forward P/E FY202730.3x
Forward P/E FY202822.1x
Forward multiples divide today's price by Street EPS estimates. Street mean target $177.33 across 9 analysts last quarter is theirs, not ours.

GLW vs industry median

183 companies in Hardware, Equipment & Parts
Gross margin 36.3% 35.9% Operating margin 15.5% 4.0% Net margin 11.2% 1.9% ROIC 8.2% 7.1%
GLW (TTM)Industry median Asset turnover 0.51 vs industry 0.67 · financial leverage 2.62

Earnings delivery

Next report 2026-10-27 · consensus EPS $0.88
75%
beat rate, 9 of 12 quarters
+1.6%
median EPS surprise
9
longest beat streak
-2-2-3+8+1+3+2+7+5+1+2+1
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-07-25 to 2026-04-28. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
GLW Corning Inc $113.8B59.8x15.9%11.2%+19.1% +52.7%
APH Amphenol Corporation $195.7B37.8x38.2%20.2%+54.2% +26.0%
KEYS Keysight Technologies, Inc. $56.4B45.6x20.5%21.5%+25.5% +103.9%
GRMN Garmin Ltd. $54.9B29.2x21.9%26.8%+13.5% +15.9%
COHR Coherent, Inc. $45.9B53.5x8.5%11.8%+22.5% +100.8%
CLS Celestica Inc. $38.3B31.3x52.7%7.8%+47.5% —
FLEX Flex Ltd. $33.4B34.9x18.4%3.6%+12.2% —
JBL Jabil Inc. $29.2B28.2x66.7%3.7%+20.6% —
12-month window: SPY +15.9%, sector ETF XLK +29.0%. Past returns describe history only.

Recent 8-K filings

2026-09-11Other Events; Exhibits
2026-09-04Regulation FD
2026-07-28Earnings Release
2026-05-15Regulation FD
2026-05-06Unregistered Equity Sales; Regulation FD; Exhibits
2026-05-04Shareholder Vote

Context

Shares outstanding861,388,000
Free float91.7%
Institutional ownership73.8%
Beta1.15
Dividend yield0.85%
Last dividend$0.28 on 2026-11-13
50 / 200-day average$154.94 / $153.43
Large-cap Technology median P/E34.8x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where GLW sits among 41 scored companies in Hardware, Equipment & Parts (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureGLWIndustry medianIndustry percentileSector median
P/E (TTM) 59.9x 36.2x
85th		 32.0x
PEG (P/E ÷ 3-yr EPS CAGR) 1.37 1.39
45th		 1.36
Price / sales 6.7x 3.4x
80th		 3.9x
Price / book 9.1x 3.7x
90th		 4.4x
Price / tangible book 23.5x 8.9x
90th		 8.8x
Price / free cash flow 47.5x 25.4x
88th		 20.3x
Price / operating cash flow 29.1x 24.7x
59th		 17.9x
Enterprise value $120.6B $7.9B
98th		 $5.5B
EV / sales 7.1x 3.7x
88th		 4.1x
EV / EBITDA 30.9x 19.1x
86th		 18.9x
EV / EBIT 43.0x 26.4x
81st		 26.7x
EV / free cash flow 50.4x 27.7x
88th		 21.9x
Earnings yield 1.7% 2.4%
30th		 2.0%
FCF yield 2.1% 3.0%
30th		 3.3%
Operating cash flow yield 3.4% 3.6%
45th		 4.4%
Graham number (per share) $26.53 $54.04
21st		 $28.08

Profitability (TTM)

MeasureGLWIndustry medianIndustry percentileSector median
Gross margin 36.3% 39.0%
40th		 55.7%
EBITDA margin 23.0% 15.0%
72nd		 13.7%
Operating margin 15.5% 12.6%
65th		 8.2%
EBIT margin 16.6% 12.3%
78th		 8.6%
Net margin 11.2% 8.1%
68th		 5.7%
NOPAT margin 13.3% 10.0%
68th		 7.0%
FCF margin 14.1% 10.8%
65th		 15.0%
Operating cash flow margin 23.1% 13.4%
88th		 18.4%
R&D / revenue 6.7% 4.4%
67th		 12.9%
SG&A / revenue 13.7% 17.1%
31st		 25.6%
Stock comp / revenue 2.5% 1.3%
64th		 4.4%
Effective tax rate 13.8% 20.5%
21st		 21.0%

Returns on capital

MeasureGLWIndustry medianIndustry percentileSector median
ROE (on average equity) 16.1% 11.5%
65th		 9.4%
ROA 6.2% 5.5%
57th		 4.1%
ROIC 11.6% 11.9%
48th		 9.0%
ROCE 10.4% 9.9%
57th		 8.6%
Return on tangible assets 9.1% 8.0%
65th		 5.9%
Cash ROIC (OCF / invested capital) 20.1% 14.6%
70th		 20.7%
Gross profitability (GP / assets) 18.7% 22.4%
42nd		 30.0%
ROIC, 3-yr average 6.0% 10.9%
29th		 7.4%
ROIC, 5-yr average 6.9% 10.1%
36th		 7.9%
ROE, 5-yr average 9.8% 9.8%
50th		 6.9%
Incremental ROIC 67.0% 12.5%
82nd		 15.3%

Growth

MeasureGLWIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 19.4% 15.9%
59th		 14.3%
Revenue growth (QoQ) 8.7% 8.9%
48th		 6.6%
Revenue CAGR, 3 yr 8.4% 4.2%
70th		 9.6%
Revenue CAGR, 5 yr 5.2% 6.7%
36th		 11.5%
Gross profit CAGR, 3 yr 15.6% 5.8%
78th		 10.9%
Operating income CAGR, 3 yr 40.1% 10.3%
88th		 11.3%
Net income growth (TTM YoY) 132.0% 38.3%
80th		 21.6%
Net income CAGR, 3 yr 44.6% 7.3%
83rd		 9.9%
EPS growth (TTM YoY) 130.0% 19.7%
77th		 22.3%
EPS CAGR, 3 yr 43.8% 9.0%
83rd		 11.2%
EPS CAGR, 5 yr 1.2% 9.9%
23rd		 12.0%
FCF growth (TTM YoY) 100.6% 25.7%
91st		 24.6%
FCF CAGR, 3 yr 111.0% 12.6%
89th		 19.3%
Operating cash flow CAGR, 3 yr 27.4% 10.1%
76th		 17.9%
Book value CAGR, 3 yr 2.7% 7.1%
30th		 6.8%
Dividend CAGR, 3 yr -0.7% -0.6%
44th		 3.1%
Sustainable growth rate 7.7% 12.6%
27th		 14.2%

Margin history & stability

MeasureGLWIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 34.1% 36.4%
42nd		 53.2%
Operating margin, 3-yr average 11.2% 11.2%
50th		 6.6%
Net margin, 3-yr average 6.8% 6.4%
53rd		 5.2%
FCF margin, 3-yr average 10.0% 11.4%
45th		 12.7%
Revenue stability (0-1) 0.47 0.57
34th		 0.87
Earnings stability (0-1) 0.05 0.41
13th		 0.45
Margin stability (0-1) 0.92 0.94
26th		 0.95

Liquidity (latest quarter)

MeasureGLWIndustry medianIndustry percentileSector median
Cash & short-term investments $2.5B $403.3M
90th		 $494.1M
Net cash (− = net debt) −$6.9B −$55.9M
2nd		 $49.8M
Working capital $4.9B $789.7M
95th		 $391.0M
Current ratio 1.81 2.29
30th		 1.92
Quick ratio 1.24 1.65
28th		 1.67
Cash ratio (cash + ST investments / current liabilities) 0.42 0.67
30th		 0.95
Defensive interval (days) 561 days 789 days
35th		 521 days

Leverage & solvency (latest quarter)

MeasureGLWIndustry medianIndustry percentileSector median
Total debt $9.4B $299.3M
98th		 $349.3M
Debt / equity 0.75 0.25
75th		 0.29
Net debt / equity 0.55 0.02
80th		 −0.13
Debt / assets 28.5% 13.4%
80th		 16.9%
Debt / capital 42.8% 19.9%
75th		 22.3%
Debt / EBITDA 2.40 1.78
69th		 1.78
Net debt / EBITDA 1.76 0.18
81st		 −0.18
Interest coverage (EBIT / interest) 7.9x 7.1x
56th		 5.8x
Cash interest coverage 11.0x 10.3x
56th		 12.8x
Debt payback (years of OCF) 2.4 yrs 1.8 yrs
62nd		 1.6 yrs
Liabilities / assets 60.2% 40.2%
80th		 48.7%
IS credit model rating A+ — —
Implied credit spread (bps) 125 125
45th		 175

Efficiency

MeasureGLWIndustry medianIndustry percentileSector median
Asset turnover 0.55 0.60
35th		 0.62
Fixed asset turnover 1.14 6.18
5th		 9.25
Inventory turnover 3.3 3.4
49th		 3.8
Receivables turnover 6.5 5.9
68th		 6.2
Days sales outstanding 56 days 62 days
32nd		 59 days
Days inventory outstanding 110 days 108 days
51st		 94 days
Days payables outstanding 73 days 60 days
72nd		 46 days
Cash conversion cycle (days) 94 days 108 days
42nd		 50 days
Capex / revenue 9.0% 2.6%
90th		 2.3%
Capex / depreciation 1.39 0.77
69th		 0.56
Operating expense ratio 20.6% 25.2%
30th		 44.3%

Cash flow & earnings quality

MeasureGLWIndustry medianIndustry percentileSector median
Operating cash flow / net income 2.06 1.38
82nd		 1.61
FCF / net income 1.26 1.13
64th		 1.33
FCF / operating cash flow 61.2% 80.2%
28th		 88.0%
Capex / operating cash flow 38.8% 19.8%
72nd		 12.0%
Accruals ratio -6.5% -3.4%
18th		 -6.3%
Sloan accruals ratio 3.5% 1.3%
60th		 -1.8%
Earnings quality score (0-1) 0.75 1.00
15th		 0.75

Dividends & buybacks

MeasureGLWIndustry medianIndustry percentileSector median
Dividend yield 0.8% 0.0%
88th		 0.0%
Dividend per share (TTM) $1.12 $0.00
92nd		 $0.00
Payout ratio (dividends / net income) 52.2% 0.0%
97th		 0.0%
Dividends / FCF 41.4% 2.0%
94th		 0.0%
Dividend growth (YoY) -1.2% -1.2%
50th		 4.1%
Buyback yield 0.0% 0.2%
32nd		 1.2%
Shareholder yield (dividends + buybacks) 0.9% 0.9%
50th		 1.7%
Share count change (YoY) 0.9% 0.2%
64th		 0.1%
Buybacks, last 5 years $752.0M $171.0M
72nd		 $215.3M

Scores & forensic checks

MeasureGLWIndustry medianIndustry percentileSector median
IS score 69 61
85th		 56
IS profitability 49 44
60th		 40
IS growth 73 67
74th		 65
IS value 32 39
20th		 39
IS momentum 97 81
92nd		 78
IS risk (safety) 100 100
28th		 100
IS quality 77 71
70th		 67
IS balance sheet 65 72
30th		 72
IS earnings quality 70 70
45th		 61
IS cash flow 68 61
68th		 66
Piotroski F-score (0-9) 8 6
75th		 6
Altman Z-score 8.4 6.7
68th		 4.0
Beneish M-score −2.52 −2.50
46th		 −2.58
Ohlson O-score −8.42 −8.21
45th		 −8.00
IS credit score 77 77
48th		 69

Per share

MeasureGLWIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $2.18 $2.41
45th		 $0.84
Book value per share $14.38 $25.00
22nd		 $9.77
Tangible book per share $11.68 $10.81
55th		 $3.22
Revenue per share $19.42 $31.39
32nd		 $13.00
FCF per share $2.74 $2.86
45th		 $1.78
Operating cash flow per share $4.48 $4.66
48th		 $2.40
Cash per share $2.87 $7.59
28th		 $4.50

Size (TTM)

MeasureGLWIndustry medianIndustry percentileSector median
Market cap $113.8B $6.5B
98th		 $4.7B
Revenue $17.0B $2.3B
92nd		 $1.2B
EBITDA $3.9B $300.6M
98th		 $185.8M
Net income $1.9B $174.8M
98th		 $84.9M
Free cash flow $2.4B $180.0M
98th		 $170.6M
Total assets $33.0B $3.6B
98th		 $2.4B
Shareholders' equity $12.6B $1.6B
98th		 $1.1B
Employees 67,200 7,806
92nd		 3,000

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-30Martin Kevin J
Director
 Award / grant 228——20,462
2026-09-30Ferguson Roger W. Jr.
Director
 Award / grant 268——16,990
2026-09-30Cummings Robert F Jr
Director
 Award / grant 268——131,030
2026-09-30Burns Stephanie
Director
 Award / grant 268——27,037
2026-09-04Gullo Michelle L
Senior Vice President & CHRO
 Open-market sale 9,874$152.29$1.5M9,384
2026-08-28Steverson Lewis A
Vice Chairman, EVP and CLAO
 Open-market sale 13,100$151.29$2.0M15,052
2026-06-30Martin Kevin J
Director
 Award / grant 137——20,234
2026-06-30Ferguson Roger W. Jr.
Director
 Award / grant 161——16,722
2026-06-30Cummings Robert F Jr
Director
 Award / grant 161——130,762
2026-06-30Burns Stephanie
Director
 Award / grant 161——26,769
2026-06-22Gullo Michelle L
Senior Vice President & CHRO
 Tax withholding 18,378$209.83$3.9M19,258
2026-06-09Weeks Wendell P
Director, Chairman, CEO and President
 Open-market sale 100,000$186.46$18.6M908,353

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunAugSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired81,652—
GiftDisposed1126—
Open-market saleDisposed14305,256$57.5M
Option exerciseAcquired511,520$171,446
Option exerciseDisposed511,520$171,446
Tax withholdingDisposed427,615$5.3M
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 32 notices · 735,148 shares · $105.5M
FiledFilerShares proposedEst. proceeds
2026-09-04Michelle Gullo9,874$1.5M
2026-08-28Lewis Steverson13,100$2.0M
2026-06-09Wendell Weeks100,000$18.6M
2026-05-22Jaymin Amin27,395$5.3M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 11 trades (9 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-24Maria Elvira SalazarHouseSale$1,001 - $15,0002026-10-08
2026-09-08Maria Elvira SalazarHousePurchase$1,001 - $15,0002026-10-08
2026-09-04Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-09-04Maria Elvira SalazarHouseSale$1,001 - $15,0002026-10-08
2022-01-18Thomas R. CarperSenateSale (Partial)$1,001 - $15,0002022-02-03
2022-01-18Thomas R. CarperSenateSale (Partial)$1,001 - $15,0002022-02-02
2022-01-18Thomas Richard CarperSenateSale (Partial)$1,001 - $15,0002022-02-02
2020-11-20Thomas R. CarperSenatePurchase$1,001 - $15,0002021-05-17
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.65,765,574$16.8B7.63%
VANGUARD CAPITAL MANAGEMENT LLC50,831,214$13.0B5.90%
STATE STREET CORP41,108,384$10.5B4.77%
JPMORGAN CHASE & CO26,087,117$6.7B3.03%
Capital Research Global Investors24,698,700$6.3B2.87%
FMR LLC24,027,884$6.1B2.79%
VANGUARD PORTFOLIO MANAGEMENT LLC18,920,070$4.8B2.20%
BANK OF AMERICA CORP /DE/18,730,616$4.8B2.17%
GEODE CAPITAL MANAGEMENT, LLC18,363,394$4.7B2.13%
STATE FARM MUTUAL AUTOMOBILE INSURANCE CO13,231,628$3.4B1.54%
WELLINGTON MANAGEMENT GROUP LLP13,174,194$3.4B1.53%
NORGES BANK10,238,257$2.6B1.19%
GOLDMAN SACHS GROUP INC8,843,159$2.3B1.03%
NORTHERN TRUST CORP6,669,928$1.7B0.77%
PRICE T ROWE ASSOCIATES INC /MD/6,061,765$1.5B0.70%

Institutional ownership by quarter

2023-092026-0673.8%
% of shares held by 13F filers
2023-092026-062,694
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-302,69473.8%580902958118
2026-03-312,26371.0%491680843100
2025-12-311,90672.9%28759873983
2025-09-301,74272.7%31453365389
2025-06-301,54573.3%17361151285
2025-03-311,47272.5%138591508120
2024-12-311,48171.8%21848653578
2024-09-301,36071.2%17545750580
2024-06-301,27972.6%17144145473
2024-03-311,19970.8%11042544790
2023-12-311,19469.3%14236351169
2023-09-301,14067.8%9940742498

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-04-29SCHEDULE 13GVanguard Capital Management6.8%58,226,346
2026-03-26SCHEDULE 13G/AThe Vanguard Group0.0%0
2025-09-10SCHEDULE 13G/ASamsung Display Co., Ltd.7.9%68,000,000
2025-04-07SCHEDULE 13G/ASamsung Display Co., Ltd.8.3%71,000,000
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.16%$3.8B
VSMPX0.16%$3.8B
VTI0.16%$3.8B
VTSAX0.16%$3.8B
VOO0.18%$3.2B
VFINX0.18%$3.2B

Share structure

Shares outstanding861,388,000
Float790,091,777
Free float91.7%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$14.1B$14.2B$12.6B$13.1B$15.6B
Cost of revenue$9.0B$9.7B$8.7B$8.8B$10.1B
Gross profit$5.1B$4.5B$3.9B$4.3B$5.5B
R&D$995.0M$1.0B$1.1B$1.1B$1.1B
SG&A$1.8B$1.9B$1.8B$1.9B$2.1B
Operating income$2.1B$1.4B$890.0M$1.1B$2.3B
EBITDA$4.2B$3.5B$2.5B$2.5B$3.7B
Pretax income$2.4B$1.8B$816.0M$813.0M$2.1B
Income tax$491.0M$411.0M$168.0M$221.0M$310.0M
Net income$1.9B$1.3B$581.0M$506.0M$1.6B
EPS, diluted$1.28$1.54$0.68$0.58$1.85
Diluted shares844.0M857.0M859.0M869.0M860.0M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$2.1B$1.7B$1.8B$1.8B$1.5B
Receivables$2.0B$1.7B$1.6B$2.1B$2.8B
Inventory$2.5B$2.9B$2.7B$2.7B$3.1B
Total current assets$7.7B$7.5B$7.2B$8.0B$8.9B
PP&E, net$16.5B$16.2B$15.5B$14.2B$15.7B
Goodwill & intangibles$3.6B$3.4B$3.3B$3.1B$3.1B
Total assets$30.2B$29.5B$28.5B$27.7B$31.0B
Accounts payable$1.6B$1.8B$1.5B$1.5B$2.0B
Total current liabilities$4.8B$5.2B$4.3B$4.9B$5.6B
Long-term debt$7.0B$6.7B$7.2B$6.9B$8.5B
Total liabilities$17.6B$17.2B$16.6B$16.7B$18.7B
Shareholders' equity$12.5B$12.3B$11.9B$11.1B$12.3B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$1.9B$1.4B$648.0M$592.0M$1.6B
Depreciation & amortization$1.5B$1.5B$1.4B$1.4B$1.3B
Stock-based compensation$190.0M$175.0M$218.0M$273.0M$286.0M
Change in working capital$323.0M−$138.0M−$158.0M−$558.0M−$228.0M
Operating cash flow$3.4B$2.6B$2.0B$1.9B$2.7B
Capital expenditure−$1.6B−$1.6B−$1.4B−$965.0M−$1.3B
Free cash flow$1.8B$1.0B$615.0M$974.0M$1.4B
Investing cash flow−$1.4B−$1.4B−$1.0B−$744.0M−$1.2B
Net debt issued / repaid−$838.0M$40.0M$716.0M−$114.0M−$425.0M
Buybacks−$335.0M−$268.0M−$106.0M−$246.0M−$163.0M
Dividends paid−$871.0M−$932.0M−$989.0M−$986.0M−$999.0M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin36.0%31.8%31.2%32.6%35.9%
Operating margin15.0%10.1%7.1%8.7%14.7%
Net margin13.5%9.3%4.6%3.9%10.2%
FCF margin12.6%7.1%4.9%7.4%9.0%
ROE14.9%10.8%4.9%4.6%14.2%
ROIC9.3%6.1%3.9%4.9%9.5%
ROA6.3%4.4%2.0%1.8%5.4%
Debt / equity0.630.650.730.760.87
Interest coverage9.1x7.2x3.5x3.5x7.1x
Current ratio1.591.441.671.621.59
Revenue growth+24.6%+0.8%−11.3%+4.2%+19.1%
EPS growth+285.2%−29.2%−56.3%−13.2%+213.2%
P/E at year end15.1x18.8x42.5x78.7x47.2x
EV / EBITDA at year end8.2x8.7x12.5x18.5x22.5x
FCF yield at year end6.18%4.08%2.49%2.45%1.88%
Dividend payout45.7%70.8%170.2%194.9%62.6%

Revenue by segment

FY2024FY2025
Optical Communications$4.7B$6.3B
Display Technologies$3.9B$3.0B
Specialty Materials$2.0B$2.2B
Automotive Products—$1.8B
Environmental Technologies$1.7B—
Life Sciences$979.0M$959.0M
Polycrystalline Silicon—$955.0M
Hemlock And Emerging Growth Businesses$865.0M—
All Other—$505.0M

Revenue by region · FY2025

Asia Pacific$7.6B · 47%
North America$7.1B · 44%
Europe$1.4B · 9%

Street estimates by fiscal year

Next report 2026-10-27 · consensus EPS $0.88 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$19.3B$18.7B – $19.5B$3.29$3.26 – $3.371140.1x
2027$23.0B$22.3B – $23.5B$4.36$3.91 – $5.071130.3x
2028$27.8B$26.0B – $29.8B$5.96$4.81 – $7.37722.1x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-04-28$0.69$0.70+1.2%$4.3B$4.3B+1.1%
2026-01-28$0.71$0.72+1.8%$4.4B$4.4B+1.1%
2025-10-28$0.67$0.67+0.8%$4.2B$4.1B−3.1%
2025-07-29$0.57$0.60+5.1%$3.9B$3.9B+0.2%
2025-04-29$0.51$0.54+6.5%$3.6B$3.5B−5.3%
2025-01-29$0.56$0.57+1.8%$3.8B$3.5B−7.0%
2024-10-29$0.53$0.54+2.7%$3.7B$3.4B−8.8%
2024-07-30$0.46$0.47+1.5%$3.5B$3.3B−8.4%
2024-04-30$0.35$0.38+8.0%$3.1B$3.0B−4.6%
2024-01-30$0.40$0.39−2.5%$3.3B$3.0B−8.0%
2023-10-24$0.46$0.45−2.2%$3.5B$3.2B−9.4%
2023-07-25$0.46$0.45−2.2%$3.5B$3.2B−6.8%
2023-04-25$0.39$0.41+5.1%$3.3B$3.2B−4.9%
2023-01-31$0.44$0.47+6.8%$3.6B$3.4B−4.1%
2022-10-25$0.51$0.510.0%$3.7B$3.5B−4.8%
2022-07-26$0.56$0.57+1.8%$3.8B$3.6B−4.3%
2022-04-26$0.50$0.54+8.0%$3.6B$3.7B+3.6%
2022-01-26$0.52$0.54+3.8%$3.6B$3.7B+2.4%
2021-10-26$0.58$0.56−3.4%$3.6B$3.6B−0.5%
2021-07-27$0.51$0.53+3.9%$3.6B$3.5B−3.7%
2021-04-27$0.42$0.45+7.1%$3.1B$3.3B+6.0%
2021-01-27$0.48$0.52+8.3%$3.1B$3.4B+6.5%
2020-10-27$0.38$0.43+13.2%$2.7B$3.0B+13.2%
2020-07-28$0.11$0.25+127.3%$1.8B$2.6B+43.7%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
2.106-155.606-225.206-292.207-062.407-131.807-204.207-272.308-031.808-102.008-171.208-241.408-31
Week ofNotionalSharesTrades
2026-08-31$1.4B9,591,985145,109
2026-08-24$1.2B8,166,355144,831
2026-08-17$2.0B12,643,048204,361
2026-08-10$1.8B10,844,979173,924
2026-08-03$2.3B14,773,369238,958
2026-07-27$4.2B32,664,849381,631

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1525.8%
DateShort shareShort volumeTotal volume
2026-10-1525.8%1,201,2094,649,663
2026-10-1428.6%1,201,4324,197,256
2026-10-1335.1%1,073,5873,060,025
2026-10-1230.0%1,170,3123,898,446
2026-10-0934.7%1,079,2823,112,268
2026-10-0847.7%1,814,9463,804,960
2026-10-0751.0%1,204,8162,361,814
2026-10-0650.7%2,018,5193,978,588
2026-10-0545.1%1,138,3142,521,844
2026-10-0251.2%1,600,3783,126,422
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+3.9Jan+2.5Feb+2.2Mar+0.8Apr+0.7May+0.0Jun+0.9Jul-0.2Aug+1.1Sep-0.1Oct+2.1Nov+1.2Dec
MonthAvg returnUp yearsYears
Jan+3.9%70%20
Feb+2.5%55%20
Mar+2.2%52%21
Apr+0.8%55%20
May+0.7%60%20
Jun+0.0%45%20
Jul+0.9%50%20
Aug−0.2%45%20
Sep+1.1%65%20
Oct−0.1%50%20
Nov+2.1%70%20
Dec+1.2%60%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1435.9
MFI37.3
ADX14.3
Stochastic %K / %D7.1 / 11.3
Williams %R-99.0
CCI-212
TSI / signal-10.0 / -1.7
Chaikin money flow0.10
ATR$8.40
Bollinger width22.9%
Volume vs 20-day avg1.03x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$154.05 (−14.3%)
SMA 50$154.38 (−14.5%)
SMA 200$153.58 (−14.0%)
EMA 21$150.97 (−12.5%)
EMA 50$155.22 (−14.9%)
EMA 200$146.97 (−10.1%)
Bollinger upper$171.70 (−23.1%)
Bollinger lower$136.39 (−3.2%)
Parabolic SAR$164.44 (−19.7%)
Open the live chart, 110+ indicators

About Corning Inc

Corning Incorporated operates in optical communications, display, specialty materials, automotive, and life sciences businesses in the United States, Canada, Mexico, Japan, Taiwan, China, South Korea, Germany, and internationally. The company provides optical fibers and cables; and hardware and equipment products, such as cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories for the telecommunications industry, businesses, governments, and individuals. It also offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices. In addition, it manufactures products that offer material formulations for glass, glass ceramics, crystals, precision metrology instruments, and software, as well as glass wafers and substrates, tinted sunglasses, and radiation shielding products for markets, such as mobile consumer electronics, semiconductor equipment optics and consumables, aerospace and defense optics, radiation shielding products, sunglasses, and telecommunications components. Further, the company provides ceramic substrates and filter products for emissions control in mobile, gasoline, and diesel applications, as well as technical glass and optic products and solutions for the interior and exterior of vehicles. Additionally, it offers laboratory products, including plastic vessels, liquid handling plastics, specialty surfaces, cell culture media, and serum, as well as general labware, and glassware and equipment under the Corning, Falcon, PYREX, and Axygen brands. It also offers polysilicon products and pharmaceutical glass tubing and vials. The company was formerly known as Corning Glass Works and changed its name to Corning Incorporated in April 1989. Corning Incorporated was founded in 1851 and is headquartered in Corning, New York.

https://www.corning.com

Key executives

NameTitlePayBorn
Wendell WeeksChairman, President & Chief Executive Officer$11.5M1960
John Z. ZhangExecutive VP & Chief Corporate Development Officer$4.4M1973
Lewis A. SteversonVice Chairman, Executive VP and Chief Legal & Administrative Officer$4.0M1964
Edward A. SchlesingerExecutive Vice President & Chief Financial Officer$3.3M1968
Avery H. NelsonExecutive Vice President & Chief Operating Officer$2.7M1969
Jaymin AminSenior Vice President & Chief Technology Officer—1968
John MacMahonSenior Vice President of Global Compensation & Benefits——
Kevin G. CorlissVice President of Global Employee Relations & Chief Compliance Officer——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Wendell P. Weeks Chairman, Chief Executive Officer and President2025$1.7M$12.0M$9.3M$25.8M
Eric S. Musser Former President and Chief Operating Officer2025$790,731$4.4M$3.4M$12.1M
Lewis A. Steverson Vice Chairman, Executive Vice President and Chief Legal and Administration Officer2025$913,523$3.6M$3.0M$9.1M
John Z. Zhang Executive Vice President and Chief Corporate Development Officer2025$668,269$2.7M$2.0M$8.3M
Edward A. Schlesinger Executive Vice President and Chief Financial Officer2025$779,154$2.9M$2.4M$7.4M
A. Hal Nelson III Executive Vice President and Chief Operating Officer2025$668,269$2.7M$1.9M$6.8M

Employees

52k201850k201950k202061k202158k202250k202356k202467k2025

Dividends

Ex-dateAmountPaid
2026-11-13$0.282026-12-11
2026-08-31$0.282026-09-29
2026-05-29$0.282026-06-29
2026-02-27$0.282026-03-30
2025-11-14$0.282025-12-12
2025-08-29$0.282025-09-29
2025-05-30$0.282025-06-27
2025-02-28$0.282025-03-28

Moat model

Narrow · Efficient Scale · 2026-06-30
Cost advantage63
Intangibles55
Switching costs34
Network effect60
Efficient scale80
Our component scores (0-100) and overall 55.9; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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